Latest Expert Exchange Queries
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
 
 
 
 
Popular Search: VAT Audit :: form 3cd :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: VAT RATES :: ACCOUNTING STANDARD :: TAX RATES - GOODS TAXABLE @ 4% :: cpt :: TDS :: empanelment :: ARTICLES ON INPUT TAX CREDIT IN VAT :: Central Excise rule to resale the machines to a new company :: list of goods taxed at 4% :: articles on VAT and GST in India :: due date for vat payment :: ACCOUNTING STANDARDS
 
 
News Headlines »
 Is government tapping your phone?
 Income tax department to use analytics to look for discrepancies in bank accounts
 GST Council fails to break deadlock over indirect tax regime, next meet on Dec 11 and 12 to hammer out differences
 Invoking Writ Jurisdiction For Income Tax Matters
 How to file income-tax returns online
 How Income Tax Returns Are Scrutinised
 All About New Income Disclosure Scheme to make Demonetisation successful
 Your deposit may draw income tax notice
 Accepting payment under IDS 2016
 New disclosure scheme could see 50% tax and 4-year limit on cash use for unaccounted deposits
 Pay 50% tax on unaccounted deposits, or 85% if caught, says Modi government

You can forget tax cuts this Budget
May, 15th 2009

The finance ministry on Thursday indicated to an industry delegation that it should not expect a further lowering of corporate, excise and service taxes in the Budget to be presented by the next finance minister.

"Revenue secretary Mr P V Bhide . . . indicated that no further relaxation in excise and service taxes could be possible at this juncture since the government has already addressed these issues," industry body Assocham said in New Delhi after its delegation participated in the pre-Budget consultations.

The United Progressive Alliance government had slashed excise duty by four percentage points across the board and service tax by two percentage points in stimulus packages of December and January to limit the impact of global downturn on the Indian economy.

Excise duty in the 8-10 per cent slab is levied on most industrial goods. The corporate tax rate is 30 per cent.

Bhide told the delegation that a roadmap for executing the Goods and Service Tax is being finalised by a team headed by the additional secretary in the revenue department, K Jose Cyriace.

Central Board of Direct Taxes chairman S S N Moorthy attended the meeting.

Bhide said that an inverted duty structure where customs duty on finished products is higher than raw material would be removed.

The UPA government tabled the Interim Budget in February and sought Parliament's approval to draw money from the Consolidated Fund of India to meet expenditure till July.

The chamber sought tax benefits for Indian firms in defence production.

It also demanded that the Software Technology Parks Scheme, due to lapse in March 2010, should be extended by another few years.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2016 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - About Us

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions